Hi John
Well I didn’t trade again today. I was too busy with work and that frustrated me. I had a good day with Darren and he seemed a lot calmer today and we went back to basics and kept in mind what we have learned and put it to work. You know that’s the only way to go. We had good entries not so goodexits –, as we still get out too early but it was a much calmer day trading.
I explained to him my feelings and I said this to me is my bread and butter and roof over my head. I need to be careful and not try risky tactics until I’ve perfected them on the demo. I have to hand it to him, he is one of the nicest people I’ve met and so humble.
I have a funny story. This afternoon Darren and I wanted to enter a sell trade at 50. When it got down to 50 I said to him to wait. He said why andI said I didn’t like the hesitation, the look of the shadows etc. It had shot down and passed the support line at 52 and in all intents and purposes a good entry. My words were not cold when it shot up over 80 pips in seconds. If we had clicked sell at that point we’d not have had time to even get our stop in as it went up so fast. At the top I said lets sell as it came down so nicely but we didn’t.
I prefer trading spikes on the 5 minutechart but this one was a real classic and even on the 1 minute was workable.It was such a surprise and we had a good laugh because Darren was puzzled by my reluctance to enter the trade and then wham this happened. Actually as he said why it shot up and I said mm that’s why Darren. I made my trade before I spoke to Darren and basically was done for the day. I used the 1 minute as my entry. I much prefer watching the deal ticket in Worldspreads to thecharts on VT as the numbers and the rate they move have more impact with meand help in making my decision to get in and especially out of a trade. plusVT is so often out of sync with Worldspreads especially when there is massive movement.
Darren and I have worked out why we leave trades too soon. Whenever we’ve gone into a trade that has gone 20 against us before turning around by the time it reaches 0 we are so relieved we take what profits we can and heave a huge sigh of relief. This is a sure sign we enter trades at the wrong time.When we enter trades and it only goes about 6 or 10 against us before turning around, we are relaxed when we get into profit and then are prepared to let the trade run.
A perfect example was today. Darren wanted to get inat 192 for a sell and I suggested he wait because it was right at the tip ofthe candle just out of the shadow. I suggested he wait till it goes back to 201. He was itching to get in but he saw the logic so when it reached 202 hewent in and had a lovely 30 pip run down into profit. It went into profit almost immediately and he was able to trail his stops. This proved to both of us how important right entries are. Leigh got in on a spike yesterday and had his ass handed to him. Thank goodness he was on the demo.
Today I only traded the euro and felt comfortable trading it. Cable to me is too volatile and unless it’s a good clear run you can really get into hotwater because each candle fluctuates so much. In comparison the euro is so much slower and like an old donkey in comparison. But saying that after the news came out this afternoon the euro went mad for several hours and the 30minute chart was a mess.
This morning at 5am EST - 10am UK time I drew some trend lines and at close of day those trend lines were still accurate. I had a trend line on the 30 minute and it never went over the resistance line all day. So a good indication that the trend was down. Last night I thought a lot about putting trades in, giving them room to breathe and then trading shorter time frames on another currency. I need to work this one out andI’ll go over your course again to get me into a longer term trade. It makessense and makes more money too.
We also had an internet outage which made me reluctant to enter another trade for a while. This is scary as here in the sticks these things happen.So all in all I am happy with my 14 pips and more so that they were made in one trade. Monday it’s up to £5 a pip. I wanted to trade £5 today but the opportunity to trade again didn’t materialise.
VT is down now and we can’t get into Leigh’s live account and that will be put on hold till Monday. I do hope the live accounts are in better shape than the demos.
My friend Carolyn Stuart in Perth will be ordering the basic Forex forbeginner’s course soon. She will have it delivered to my home address as she’s at work all day. It will be interesting watching her trade as she can’t trade all day. She will need to place her orders before work and thenl et the trade work for her during the day. I told her I’d be on standby for any help she needs. Her son Adrian is also interested and she’s getting thecourse as a Christmas present to herself and her kids. Let’s see if she cando it. She needs to make £175 a week. I hope so. She doesn’t make much money but I am fully aware that not everyone can trade so I’m keeping an openmind. She’s had a good scout around your website.
My friend Carrie Thorne from Namibia said she has written. Has her email arrived yet? She wants the same course. I think she’ll do well. She wrote to the Puriton address. Carolyn will write this weekend and then place the order online. Attached please find my two trading analysers – the real one and the simpler one Iain designed. I’ve made a mistake in calculation because Iain’s one says I have less money than I actually have. I’ve asked Darren to send me his so I can make a screen shot of it like the ones I attached. Ok that’s all for today. Have a safe trip across the wee pond. Can’t wait to see your home in France. Kindest regards Desiree
Well I didn’t trade again today. I was too busy with work and that frustrated me. I had a good day with Darren and he seemed a lot calmer today and we went back to basics and kept in mind what we have learned and put it to work. You know that’s the only way to go. We had good entries not so goodexits –, as we still get out too early but it was a much calmer day trading.
I explained to him my feelings and I said this to me is my bread and butter and roof over my head. I need to be careful and not try risky tactics until I’ve perfected them on the demo. I have to hand it to him, he is one of the nicest people I’ve met and so humble.
I have a funny story. This afternoon Darren and I wanted to enter a sell trade at 50. When it got down to 50 I said to him to wait. He said why andI said I didn’t like the hesitation, the look of the shadows etc. It had shot down and passed the support line at 52 and in all intents and purposes a good entry. My words were not cold when it shot up over 80 pips in seconds. If we had clicked sell at that point we’d not have had time to even get our stop in as it went up so fast. At the top I said lets sell as it came down so nicely but we didn’t.
I prefer trading spikes on the 5 minutechart but this one was a real classic and even on the 1 minute was workable.It was such a surprise and we had a good laugh because Darren was puzzled by my reluctance to enter the trade and then wham this happened. Actually as he said why it shot up and I said mm that’s why Darren. I made my trade before I spoke to Darren and basically was done for the day. I used the 1 minute as my entry. I much prefer watching the deal ticket in Worldspreads to thecharts on VT as the numbers and the rate they move have more impact with meand help in making my decision to get in and especially out of a trade. plusVT is so often out of sync with Worldspreads especially when there is massive movement.
Darren and I have worked out why we leave trades too soon. Whenever we’ve gone into a trade that has gone 20 against us before turning around by the time it reaches 0 we are so relieved we take what profits we can and heave a huge sigh of relief. This is a sure sign we enter trades at the wrong time.When we enter trades and it only goes about 6 or 10 against us before turning around, we are relaxed when we get into profit and then are prepared to let the trade run.
A perfect example was today. Darren wanted to get inat 192 for a sell and I suggested he wait because it was right at the tip ofthe candle just out of the shadow. I suggested he wait till it goes back to 201. He was itching to get in but he saw the logic so when it reached 202 hewent in and had a lovely 30 pip run down into profit. It went into profit almost immediately and he was able to trail his stops. This proved to both of us how important right entries are. Leigh got in on a spike yesterday and had his ass handed to him. Thank goodness he was on the demo.
Today I only traded the euro and felt comfortable trading it. Cable to me is too volatile and unless it’s a good clear run you can really get into hotwater because each candle fluctuates so much. In comparison the euro is so much slower and like an old donkey in comparison. But saying that after the news came out this afternoon the euro went mad for several hours and the 30minute chart was a mess.
This morning at 5am EST - 10am UK time I drew some trend lines and at close of day those trend lines were still accurate. I had a trend line on the 30 minute and it never went over the resistance line all day. So a good indication that the trend was down. Last night I thought a lot about putting trades in, giving them room to breathe and then trading shorter time frames on another currency. I need to work this one out andI’ll go over your course again to get me into a longer term trade. It makessense and makes more money too.
We also had an internet outage which made me reluctant to enter another trade for a while. This is scary as here in the sticks these things happen.So all in all I am happy with my 14 pips and more so that they were made in one trade. Monday it’s up to £5 a pip. I wanted to trade £5 today but the opportunity to trade again didn’t materialise.
VT is down now and we can’t get into Leigh’s live account and that will be put on hold till Monday. I do hope the live accounts are in better shape than the demos.
My friend Carolyn Stuart in Perth will be ordering the basic Forex forbeginner’s course soon. She will have it delivered to my home address as she’s at work all day. It will be interesting watching her trade as she can’t trade all day. She will need to place her orders before work and thenl et the trade work for her during the day. I told her I’d be on standby for any help she needs. Her son Adrian is also interested and she’s getting thecourse as a Christmas present to herself and her kids. Let’s see if she cando it. She needs to make £175 a week. I hope so. She doesn’t make much money but I am fully aware that not everyone can trade so I’m keeping an openmind. She’s had a good scout around your website.
My friend Carrie Thorne from Namibia said she has written. Has her email arrived yet? She wants the same course. I think she’ll do well. She wrote to the Puriton address. Carolyn will write this weekend and then place the order online. Attached please find my two trading analysers – the real one and the simpler one Iain designed. I’ve made a mistake in calculation because Iain’s one says I have less money than I actually have. I’ve asked Darren to send me his so I can make a screen shot of it like the ones I attached. Ok that’s all for today. Have a safe trip across the wee pond. Can’t wait to see your home in France. Kindest regards Desiree
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